Question 1

How long does a bridge loan last in Del Rey Oaks?

Accepted Answer

Most bridge loans run 6 to 12 months. Some lenders extend to 24 months if you need more time to sell.

Question 2

Do I need to sell my home first to qualify?

Accepted Answer

No — that's the point. You borrow against your existing equity and repay when the sale closes.

Question 3

Are bridge loan rates higher than conventional rates?

Accepted Answer

Yes, significantly. These are short-term, higher-risk products. Rates vary by borrower profile and market conditions.

Question 4

Can I use a bridge loan on a primary residence?

Accepted Answer

Yes, though some lenders focus on investment properties. Primary residence bridge loans have additional consumer protections.

Question 5

What if my current home doesn't sell in time?

Accepted Answer

Talk to your lender early. Most can extend the term, though fees apply. Having a backup plan is critical.

Question 6

How is a bridge loan different from hard money?

Accepted Answer

Bridge loans are specifically tied to a sale-purchase transition. Hard money is broader and often used for fix-and-flip deals.

Bridge Loans in Del Rey Oaks — Buy Before You Sell